Enquiry or investigation in respect of document/evidence relating to IDS 2016 found during the course of Search
Posted Date : 02-Sep-2016 , 07:49:58 am | Posted By: CASANSAAR
The Income Declaration Scheme, 2016 (hereinafter referred to as ‘the Scheme’) came into effect on 1st June, 2016. To address doubts and concerns raised by the stakeholders, the Board has issued five sets of FAQs vide Circular Nos. 17, 24, 25,27 & 29 of 2016. To allay apprehensions relating to the income/asset declared under the Scheme vis-à-vis search and survey action by the Income-tax Department, the following clarification is issued....
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Income Tax |
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Rebate of State Levies on Export of Garments – Implementation by CBEC
Posted Date : 01-Sep-2016 , 07:41:49 am | Posted By: CASANSAAR
The Government of India has decided to adopt a mechanism wherein the rebate of State levies on garment exports is provided based on a budgetary allocation of the Ministry of Textiles under a scheme in which the Department of Revenue/Central Board of Excise and Customs (CBEC) handles disbursement along with the extant Duty Drawback....
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Custom |
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CBDT Extends due date for quarterly furnishing of form 15G/155H
Posted Date : 01-Sep-2016 , 07:39:24 am | Posted By: CASANSAAR
F.No. DGIT(S)/CPC(TDS)/DCIT/15GH /2016-17
Government of India
Ministry of Finance
Central Board of Direct Taxes
Directorate of Income-tax(Systems)
New Delhi.
Notification No. 10/2016-Income Tax
New Delhi, 31st August, 2016
Subject: Extension of due date for quarterly furnishing of 15G/15H declarations –reg
1. The due date for quarterly furnishing of 15G/15H declarations received by the payer from 1.4.2016 onwards and the manner for dealing with Form 15G/15H received by payer...
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CBDT |
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Sovereign Gold Bonds 2016-17 Series II – Operational Guidelines
Posted Date : 31-Aug-2016 , 07:17:29 am | Posted By: CASANSAAR
RBI/2016-17/54
IDMD.CDD.No.463/14.04.050/2016-17
August 29, 2016
The Chairman & Managing Director
All Scheduled Commercial Banks,
(Excluding RRBs)
Designated Post Offices
Stock Holding Corporation of India Ltd.( SHCIL)
National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd.
Dear Sir/Madam,
Sovereign Gold Bonds 2016-17 Series II – Operational Guidelines
This has reference to theGoI notification F.No.4(7)-W&M/2016andRBI circular IDMD.CDD.No. 462/14...
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RBI |
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Sovereign Gold Bonds 2016-17 – Series II
Posted Date : 31-Aug-2016 , 07:15:35 am | Posted By: CASANSAAR
RBI/2016-17/53
IDMD.CDD.No.462/14.04.050/2016-17
August 29, 2016
The Chairman & Managing Director
All Scheduled Commercial Banks,
(Excluding RRBs)
Designated Post Offices
Stock Holding Corporation of India Ltd.(SHCIL)
National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd.
Dear Sir/Madam,
Sovereign Gold Bonds 2016-17 – Series II
Government of India has, vide itsNotification F.No. 4(7)-W&M/2016 dated August 29, 2016, announced that the Sovereign G...
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RBI |
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Custome Circular - Revised Guidelines for Disposal of Confiscated Goods
Posted Date : 27-Aug-2016 , 07:19:05 am | Posted By: CASANSAAR
Custome Circular No. 39/2016 dated 26-08-2016 - Revised Guidelines for Disposal of Confiscated Goods.
Custome Circular No. 39/2016...
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Custom |
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Broadcasting of Auction Results and Allotment at Fixed Time
Posted Date : 25-Aug-2016 , 11:11:37 pm | Posted By: CASANSAAR
RBI/2016-17/51
Ref.IDMD/435/08.01.001/2016-17
August 25, 2016
All Market Participants
Dear Sir/Madam,
Broadcasting of Auction Results and Allotment at Fixed Time
As part of the market borrowing programme of the Government of India (GoI) and State Governments, RBI conducts auction of GoI dated securities, Treasury Bills and State Development loans. The auction results are thereafter put out in public domain.
2. It has been decided to provide greater predictability on timing of ...
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RBI |
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Guidelines on Enhancing Credit Supply for Large Borrowers through Market Mechanism
Posted Date : 25-Aug-2016 , 11:10:52 pm | Posted By: CASANSAAR
RBI/2016-17/50
DBR.BP.BC.No.8/21.01.003/2016-17
August 25, 2016
All Scheduled Commercial Banks
(excluding RRBs)
Guidelines on Enhancing Credit Supply for
Large Borrowers through Market Mechanism
Please refer to theDiscussion Paperon the captioned subject issued on May 12, 2016 for comments of the stakeholders. The Discussion Paper proposed a framework for addressing the concentration risk of the banking system arising from its exposures towards a single counterparty.
2. The com...
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RBI |
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Market Repo Transactions in Government Securities Market
Posted Date : 25-Aug-2016 , 11:09:32 pm | Posted By: CASANSAAR
RBI/2016-17/49
FMRD.DIRD.6/14.03.002/2016-17
August 25, 2016
All Market Participants
Dear Sir/Madam,
Market Repo Transactions in Government Securities Market
Please refer toparagraph 34of the fourth Bi-monthly Monetary Policy Statement 2015-16 dated September 29, 2015 wherein it was stated that the Reserve Bank will review restrictions placed on repo transactions, particularly relating to the participation of gilt account holders in the repo market.
2. Accordingly, the eligibi...
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RBI |
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Repo / Reverse repo in Corporate Debt Securities
Posted Date : 25-Aug-2016 , 11:08:44 pm | Posted By: CASANSAAR
RBI/2016-17/48
FMRD.DIRD.5/14.01.009/2016-17
August 25, 2016
To All Market Participants
Dear Sir/Madam,
Repo / Reverse repo in Corporate Debt Securities
A reference is invited to ourcircular FMRD.DIRD.04/14.03.002/2014-15 dated February 3, 2015enclosing the Repo in Corporate Debt Securities (Reserve Bank) Directions, 2015.
2. It has now been decided to permit brokers registered with the Securities and Exchange Board of India (SEBI) and authorised as market makers in corporate ...
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RBI |
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Master Circular – Collection of Direct Taxes - OLTAS
Posted Date : 25-Aug-2016 , 11:07:52 pm | Posted By: CASANSAAR
RBI/2016-17/47
DGBA.GAD.No.458/42.01.034/2016-17
August 25, 2016
To
All agency Banks
Dear Sir / Madam
Master Circular – Collection of Direct Taxes - OLTAS
Please refer to ourMaster Circular DGBA.GAD.No.3/42.01.034/2015-16 dated July 1, 2015on the above subject.
2. Instructions regarding Online Tax Accounting System (OLTAS) and operational aspects of the Direct Tax collection are currently being issued to agency banks directly by various agencies. In view of this, it has...
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RBI |
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Risk- based Internal Audit
Posted Date : 25-Aug-2016 , 11:06:53 pm | Posted By: CASANSAAR
RBI/2016-17/46
DBS.CO.PPD.05/11.01.005/2016-17
August 25, 2016
All Scheduled Commercial Banks
(excluding RRBs)
Dear Sir/ Madam,
Risk- based Internal Audit
Please refer to ourcircular DBS.CO.PP.BC.10/11.01.005/2002-03 dated December 27, 2002on Risk-based Internal Audit setting out the scope and coverage of Risk-based Internal Audit (RBIA) system in commercial banks. In this connection some banks have represented to us seeking approval for engaging services of retired officers of ...
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RBI |
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Prudential Norms for Off-balance Sheet Exposures of Banks – Restructuring of derivative contracts
Posted Date : 25-Aug-2016 , 11:05:54 pm | Posted By: CASANSAAR
RBI/2016-17/45
DBR.No.BP.BC.7/21.04.157/2016-17
August 25, 2016
All Scheduled Commercial Banks
(Excluding Local Area Banks and
Regional Rural Banks)
Dear Sir/Madam,
Prudential Norms for Off-balance Sheet Exposures of Banks – Restructuring of derivative contracts
Please refer tocircular DBOD.No.BP.BC.57/21.04.157/2008-09 dated October 13, 2008on the captioned subject. Para 2.2 of the circular requires that in cases where a derivative contract is restructured, the mark-to-m...
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RBI |
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Review of Prudential Norms –Risk Weights for Exposures to Corporates, AFCs and NBFC-IFCs
Posted Date : 25-Aug-2016 , 11:05:10 pm | Posted By: CASANSAAR
RBI/2016-17/44
DBR.No.BP.BC.6/21.06.001/2016-17
August 25, 2016
All Scheduled Commercial Banks
(Excluding Local Area Banks and
Regional Rural Banks)
Dear Sir/Madam,
Review of Prudential Norms –Risk Weights for Exposures to Corporates, AFCs and NBFC-IFCs
Please refer to para 5.8 ofMaster Circularon Basel III capital regulations dated July 1, 2015 on exposures to the captioned entities. At present unrated exposures to these entities attract a risk weight of 100 per cent. On...
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RBI |
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Partial Credit Enhancement (PCE) to Corporate Bonds
Posted Date : 25-Aug-2016 , 11:04:25 pm | Posted By: CASANSAAR
RBI/2016-17/43
DBR.BP.BC.No.5/21.04.142/2016-17
August 25, 2016
All Scheduled Commercial Banks
(excluding RRBs)
Partial Credit Enhancement (PCE) to Corporate Bonds
Please refer to thecircular DBR.BP.BC.No.40/21.04.142/2015-16 dated September 24, 2015on the captioned subject.
2. In terms of para II.6 of the above-mentioned circular, the aggregate exposure limit of all banks towards the PCE for a given bond issue has been capped at 20 per cent of the bond issue size. On a review, ...
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RBI |
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Deendayal Antyodaya Yojana - National Rural Livelihoods Mission (DAY-NRLM) – Aajeevika - Interest Subvention Scheme
Posted Date : 25-Aug-2016 , 11:03:42 pm | Posted By: CASANSAAR
RBI/2016-17/42
FIDD.GSSD.CO.BC.No.13/09.01.03/2016-17
August 25, 2016
The Chairman / Managing Director
Public and Private Sector Banks
Dear Sir / Madam,
Deendayal Antyodaya Yojana - National Rural Livelihoods Mission (DAY-NRLM) – Aajeevika - Interest Subvention Scheme
Please refer to ourcircular FIDD.GSSD.CO.BC.NO. 19/09.01.03/2015-16 dated January 21, 2016on interest subvention scheme under National Rural Livelihoods Mission (NRLM).
2. The revised guidelines for the ye...
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RBI |
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Pradhan Mantri Fasal Bima Yojna-Non-feeding of data by bank branches in the Crop Insurance Portal of MoA&FW
Posted Date : 25-Aug-2016 , 11:02:50 pm | Posted By: CASANSAAR
RBI/2016-17/41
FIDD.CO.FSD.BC.11/05.10.007/2016-17
August 25, 2016
The Chairman/Managing Director/Chief Executive Officer
All Scheduled Commercial Banks
(excluding Regional Rural Banks)
Madam/Dear Sir
Pradhan Mantri Fasal Bima Yojna-Non-feeding of data by bank branches in the Crop Insurance Portal of MoA&FW.
Please refer to ourcircular FIDD.No.FSD.BC20/05.10.007/2015-16 dated March 17, 2016advising you to ensure strict compliance of the provisions of the Pradhan Mantri Fasa...
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Category :
RBI |
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0 | Hits : 894
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Financial Literacy Centres - Revised reporting format
Posted Date : 25-Aug-2016 , 11:01:48 pm | Posted By: CASANSAAR
RBI/2016-17/40
FIDD.FLC.BC.No.12/12.01.018/2016-17
August 25, 2016
To Chairman/MD & CEO
Scheduled Commercial Banks
(Including RRBs)
Dear Sir/Madam,
Financial Literacy Centres - Revised reporting format
Please refer to ourcircular FIDD.FLC.BC.No.18/12.01.018/2015-16 dated January 14, 2016on Financial Literacy Centres (FLCs)-Revised guidelines enclosing therewith the reporting Mechan...
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RBI |
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Services provided to the Government, a local Authority or a Governmental Authority with regards to water supply
Posted Date : 23-Aug-2016 , 08:06:15 am | Posted By: CASANSAAR
Services provided to the Government, a local Authority or a Governmental Authority with regards to water supply - Circular no.199/09/2016, Dated 22/08/2016...
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Category :
Service Tax |
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0 | Hits : 1107
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Guidelines regarding Provisional Assessments under section 18 of the Custom Act, 1962
Posted Date : 23-Aug-2016 , 08:04:07 am | Posted By: CASANSAAR
Guidelines regarding Provisional Assessments under section 18 of the Custom Act, 1962 - Circular No. 38/2016 Dated 22/08/2016
CLICK FOR CIRCULAR...
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Category :
Custom |
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CBDT notifies classes of buyers to whom TCS provisions not apply
Posted Date : 23-Aug-2016 , 07:53:22 am | Posted By: CASANSAAR
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION NO. 75/2016-INCOME TAX
New Delhi, the 19th August, 2016
S.O. 2747(E).- In exercise of the powers conferred by sub-section (1E) of section 206C read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-
1. (1) These rules may be called the Income-tax (21st Amendm...
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CBDT |
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Service tax on freight forwarders on transportation of goods from India
Posted Date : 13-Aug-2016 , 09:13:20 am | Posted By: CASANSAAR
F. No. 137/54/2016-Service Tax-Part-I
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
Service Tax Wing
Circular No. 197/7/2016 -Service Tax
New Delhi, the 12th August, 2016
To,
All Principal Chief Commissioners / Chief Commissioners of Central Excise/Service Tax
Principal Directors General/Director General Goods & Service Tax/ DGCEII Systems/Audit/ Tax Payer Services/Performance Management
Chief Commissioner AR CESTAT...
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Category :
Service Tax |
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Capacity Building in Banks and AIFIs
Posted Date : 11-Aug-2016 , 06:07:32 pm | Posted By: CASANSAAR
The Reserve Bank had constituted a ‘Committee on Capacity Building’ (July 2014) under the Chairmanship of former Executive Director, Shri G Gopalakrishna, with the objective of implementing non-legislative recommendations of the Financial Sector Legislative Reforms Commission (FSLRC), relating to capacity building in banks and non-banks, streamlining training intervention and suggesting changes thereto in view of ever increasing challenges in banking and non-banking sector.
2. The...
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Category :
RBI |
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Priority Sector Lending status for Factoring Transactions
Posted Date : 11-Aug-2016 , 06:05:07 pm | Posted By: CASANSAAR
Please refer toMaster Direction FIDD.CO.Plan.1/04.09.01/2016-17 dated July 7, 2016on Priority Sector Lending (PSL) and Guidelines dated December 3, 2014 for setting up of and operating the Trade Receivables Discounting System (TReDS) issued by Reserve Bank of India.
2. To increase liquidity support for the MSME sector, it has been decided that factoring transactions on ‘with recourse’ basis shall be eligible for priority sector classification by banks, which are carrying out the b...
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Category :
RBI |
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0 | Hits : 903
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Auction of Government of India Dated Securities
Posted Date : 09-Aug-2016 , 02:44:45 pm | Posted By: CASANSAAR
Dear Sir/Madam,
Auction of Government of India Dated Securities
Government of India has offered to sell (re-issue)fourdated securities for notified amount ofRs 15,000crore as per the following details:
Sr No
Security
Notified Amount
(in Rs crore)
GoI Notification
Auction Date
Settlement date
1
7.68% GS 2023
3,000
4(3)-W&M/2016 dated
August 08, 2016
August 12, 2016
(Friday)
August 16, 2016
(Tuesday)
...
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Category :
RBI |
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0 | Hits : 910
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Implementation of Indian Accounting Standards (Ind AS) - RBI
Posted Date : 04-Aug-2016 , 07:37:29 pm | Posted By: CASANSAAR
RBI/2016-17/34
RBI/2016-17/DBR.FID.No. 1/01.02.000/2016-17
August 04, 2016
All India Financial Institutions
(Exim Bank, NABARD, NHB and SIDBI)
Madam / Dear Sir,
Implementation of Indian Accounting Standards (Ind AS)
The Ministry of Corporate Affairs (MCA), Government of India has notified the Companies (Indian Accounting Standards) Rules, 2015 on February 16, 2015. A reference is also invited to the Press Release dated January 18, 2016 issued by the MCA outlining the roadmap for...
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Category :
RBI |
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0 | Hits : 1091
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Dishonour of cheques – Modification in procedure
Posted Date : 04-Aug-2016 , 05:43:40 pm | Posted By: CASANSAAR
RBI/2016-17/33
DBR.No.Leg.BC.3/09.07.005/2016-17
August 04, 2016
All Scheduled Commercial Banks
(Including RRBs)
Dear Sir/ Madam,
Dishonour of cheques – Modification in procedure
Please refer to ourcircular DBOD.BC.Leg.No.113/09.12.001/2002-03 dated June 26, 2003and paragraph 11.4 (i) ofRPCD.CO.RRB.BC.No.100/03.05.33/2013-14 dated May 12, 2014wherein banks were advised to introduce a condition for operation of accounts with cheque facility that in the event of dishonour of...
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Category :
RBI |
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0 | Hits : 1314
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Union Budget – 2016-17 Interest Subvention Scheme
Posted Date : 04-Aug-2016 , 05:41:58 pm | Posted By: CASANSAAR
RBI/2016-17/32
FIDD.CO.FSD.BC.No 9/05.02.001/2016-17
August 4, 2016
To,
The Chairman / Managing Director
All Public & Private Sector Scheduled Commercial Banks
Dear Sir/Madam
Union Budget – 2016-17
Interest Subvention Scheme
As directed by the Government of India and in pursuance of the budget announcement relating to the Interest Subvention Scheme 2016-17 (the Scheme) it is advised that Government of India has approved the implementation of the Scheme for the year 2...
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Category :
RBI |
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0 | Hits : 1151
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lssuance ot rupees bonds to overseas investors
Posted Date : 04-Aug-2016 , 10:59:44 am | Posted By: ISHU KAUR
Issuance of rupees bonds to overseas investors by indian companies-Clarification regarding applicability of provisions of chapter III of the Companies Act 2013.
...
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Category :
Companies Act |
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0 | Hits : 1002
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RBI releases Guidelines for ‘on tap’ Licensing of Universal Banks in the Private Sector
Posted Date : 01-Aug-2016 , 05:47:33 pm | Posted By: CASANSAAR
The Reserve Bank of India today released on its website, “Guidelines for ‘on tap’ Licensing of Universal Banks in the Private Sector”.
Some of the key aspects of the Guidelines include: (i) resident individuals and professionals having 10 years of experience in banking and finance at a senior level are also eligible to promote universal banks; (ii) large industrial houses are excluded as eligible entities but are permitted to invest in the banks up to 10 per cent; (iii...
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Category :
RBI |
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